Crypto.com has obtained a Payment Institution License from the Central Bank of Brazil, the crypto exchange said on Thursday.
The license allows the company to continue offering regulated fiat wallet services in the country, where the Crypto.com Visa card has been available since 2021.
“Brazil and the entire Latin America market is a significant region in the pursuit of our vision of cryptocurrency in every wallet,” Crypto.com CEO Kris Marszalek said in a statement. Marcos Jarne, general manager and head of legal for Latin America at Crypto.com, added that “Latin America is a major driver in crypto adoption and regulators have also been playing a key role to foster this.”
In November, Brazilian payments company CloudWalk was the first crypto firm to obtain a Payments Institution License by the country’s central bank. Crypto.com now becomes the first crypto exchange thus licensed.
This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.
Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas.
Please note that our
has been updated
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
CoinDesk is an independent operating subsidiary of
which invests in
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG